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Dyno Nobel
(Sydney:DNL)
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Rating:66Neutral
Price Target:
AU$4.50
▲(19.36% Upside)
Action:Reiterated
Date:09/18/26
The score is anchored by mixed fundamentals: declining revenue/profitability and weaker free cash flow trends are partially offset by a stable balance sheet. Technicals add support due to a clear uptrend and positive momentum, while valuation detracts meaningfully because the P/E is high even with a solid dividend yield.
Positive Factors
Recurring Consumable Demand
Recurring explosives consumption linked to mining production can support repeat demand and reduce reliance on one-time sales. This business model gives Dyno Nobel an ongoing role in customers’ operating processes, supporting revenue durability over the next several quarters.
Negative Factors
Declining Revenue
Revenue has declined for two consecutive years, including a 17.25% drop in the latest year. Sustained top-line contraction can weaken operating leverage, reduce resources available for investment, and signal pressure across the company’s mining, quarrying, or infrastructure demand base.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring Consumable Demand
Recurring explosives consumption linked to mining production can support repeat demand and reduce reliance on one-time sales. This business model gives Dyno Nobel an ongoing role in customers’ operating processes, supporting revenue durability over the next several quarters.
Read all positive factors
Dyno Nobel (DNL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$6.74B
Dividend Yield3.66%
Average Volume (3M)6.49M
Price to Earnings (P/E)23.7
Beta (1Y)0.91
Revenue Growth-16.59%
EPS GrowthN/A
CountryAU
Employees5,500
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)0.16
Shares Outstanding1,751,348,900
10 Day Avg. Volume5,286,711
30 Day Avg. Volume6,491,244
Financial Highlights & Ratios
PEG Ratio-0.27
Price to Book (P/B)1.30
Price to Sales (P/S)1.55
P/FCF Ratio57.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$4.22Price Target Upside11.97% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)0.19
Revenue Forecast (FY)AU$3.45B
Dyno Nobel Business Overview & Revenue Model
Company Description
Dyno Nobel Limited is a global provider and distributor of commercial explosives, with operations spanning the United States, Australia, and Mexico. The company's offerings include specialized packaged explosives such as Powermite cartridges and D...
How the Company Makes Money
Dyno Nobel makes money by manufacturing and selling explosives and blast-related products, and by providing blasting services that are consumed as part of customers’ ongoing mining and construction operations. Key revenue streams generally include...
Dyno Nobel Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
75
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.64B | 3.71B | 5.28B | 5.41B | 6.32B | 4.35B |
| Gross Profit | 2.11B | 1.02B | 2.60B | 2.48B | 3.34B | 2.29B |
| EBITDA | 1.12B | 628.30M | -190.20M | 792.40M | 1.83B | 646.70M |
| Net Income | 148.85M | 145.50M | -310.90M | 560.00M | 1.01B | 149.10M |
Balance Sheet | ||||||
| Total Assets | 7.00B | 7.83B | 8.40B | 10.55B | 10.86B | 9.39B |
| Cash, Cash Equivalents and Short-Term Investments | 175.40M | 647.20M | 1.07B | 405.00M | 763.50M | 651.80M |
| Total Debt | 1.60B | 2.02B | 1.96B | 1.97B | 1.96B | 1.91B |
| Total Liabilities | 2.95B | 3.40B | 3.55B | 4.12B | 4.57B | 4.02B |
| Stockholders Equity | 4.05B | 4.43B | 4.85B | 6.43B | 6.29B | 5.37B |
Cash Flow | ||||||
| Free Cash Flow | -11.55M | 100.50M | -88.50M | 205.70M | 659.30M | 295.20M |
| Operating Cash Flow | 521.10M | 574.70M | 290.20M | 700.80M | 1.09B | 650.20M |
| Investing Cash Flow | 294.95M | -526.60M | 1.29B | -481.80M | -574.70M | -342.40M |
| Financing Cash Flow | -1.37B | -481.30M | -887.10M | -584.60M | -413.20M | -211.20M |
Dyno Nobel Technical Analysis
Negative
3.77
Price Trends
3.92
Negative
3.86
Negative
3.58
Positive
Market Momentum
>-0.01
Positive
40.98
Neutral
32.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:DNL, the sentiment is Negative. The current price of 3.77 is below the 20-day moving average (MA) of 3.99, below the 50-day MA of 3.92, and above the 200-day MA of 3.58, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 40.98 is Neutral, neither overbought nor oversold. The STOCH value of 32.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:DNL.
Dyno Nobel Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | AU$10.60B | 44.09 | 6.34% | 2.65% | 1.79% | 156.48% | |
66 Neutral | AU$6.74B | 23.68 | 3.51% | 3.66% | -16.59% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
50 Neutral | AU$29.03M | -6.15 | -75.44% | 20.00% | -3.10% | 39.78% | |
44 Neutral | AU$44.29M | -0.85 | -119.47% | ― | 27.85% | -141.00% |
* Basic Materials Sector Average
AU:DNL
Dyno Nobel
3.85
0.70
22.22%
AU:ORI
Orica Limited
22.87
1.06
4.87%
AU:CXL
Calix Ltd.
0.21
-0.24
-53.41%
AU:CG1
Carbonxt Group Ltd.
0.07
-0.03
-27.96%
Dyno Nobel Corporate Events
Dyno Nobel Halts On-Market Share Buyback After Deploying AUD 574m
Sep 16, 2026
Dyno Nobel Limited, an ASX-listed explosives manufacturer and service provider to the mining and resources sector, trades under the code DNL and derives its business from supplying blasting solutions to capital-intensive extraction industries. Its...
Dyno Nobel Sets 2026 Investor Day in New York With FY26 Outlook Update
Sep 16, 2026
Dyno Nobel Limited, trading on the ASX under ticker DNL, is an Australian-based industrial company that engages actively with investors through a dedicated Investor Centre and regular market updates. Its operations and communications infrastructur...
Dyno Nobel cancels shares following on-market buy-back
Sep 1, 2026
Dyno Nobel Limited has cancelled 216,544 ordinary fully paid shares following completion of an on-market share buy-back, as disclosed in a recent Appendix 3H notification to the ASX. The reduction in issued capital may marginally enhance earnings ...
Dyno Nobel Cancels Shares Under On‑Market Buy‑Back
Aug 17, 2026
Dyno Nobel Limited has cancelled 573,631 ordinary fully paid shares as part of an on‑market share buy‑back completed on August 3, 2026. The reduction in issued capital marginally increases the ownership stake of remaining shareholders ...
Dyno Nobel Updates Market on Progress of On‑Market Share Buy‑Back
Aug 4, 2026
Dyno Nobel Limited has issued an updated notification to the ASX confirming the ongoing execution of its on‑market share buy‑back program in ordinary fully paid shares.The company reported that a total of 53,948,245 shares had been rep...
Dyno Nobel Updates ASX on Progress of On-Market Share Buy-Back
Jul 30, 2026
Dyno Nobel Limited has provided an updated notification to the ASX on its ongoing on-market share buy-back program for ordinary fully paid shares under code DNL. The latest daily filing, dated 31 July 2026, reports that a total of 53,882,495 share...
Dyno Nobel Updates Investors on Progress of On-Market Share Buy-Back
Jul 27, 2026
Dyno Nobel Limited, listed on the ASX under ticker DNL with ordinary fully paid shares, operates in the industrial sector and relies on public equity markets to support its financing and growth. Its status as a widely held, exchange-traded entity ...
Dyno Nobel Continues On-Market Share Buy-Back Program
Jul 26, 2026
Dyno Nobel Limited, an ASX-listed industrial company trading under the code DNL, is conducting an on-market buy-back of its ordinary fully paid shares as part of its capital management strategy. The program reflects an approach aimed at actively m...
Dyno Nobel Continues Robust On-Market Share Buy-Back Program
Jul 8, 2026
Dyno Nobel Limited has issued an updated notification to the ASX regarding its ongoing on-market share buy-back program for ordinary fully paid shares under ticker DNL. The latest daily buy-back notice, dated 9 July 2026, reports that a total of 5...
Dyno Nobel Moves to Protect Gas Supply After QPM Enters Administration
Jul 7, 2026
Dyno Nobel has responded to QPM Energy’s entry into voluntary administration by enforcing its first-ranking security over QPM’s gas-producing assets and appointing receivers from FTI Consulting to act in Dyno Nobel’s interests. T...
Dyno Nobel Cancels Over 1.2 Million Shares in On-Market Buy-Back
Jul 3, 2026
Dyno Nobel Limited has cancelled 1,275,352 ordinary fully paid shares following an on-market buy-back completed on June 23, 2026. The reduction in issued capital may enhance earnings per share and signal ongoing capital management, with implicatio...
Dyno Nobel Issues 6.8 Million Unquoted Performance Rights Under Incentive Plan
Jul 3, 2026
Dyno Nobel Limited has notified the ASX of the issue of 6,805,505 unquoted performance rights under its employee incentive scheme. The securities, designated under the code DNLAJ, were issued on May 19, 2026, and are not intended to be quoted on t...
Dyno Nobel Completes Phosphate Hill Sale, Finalises Fertilisers Exit
Jul 1, 2026
Dyno Nobel has completed the sale of its Phosphate Hill fertiliser asset in Queensland to Ryowa II GPS Pty Ltd, a subsidiary of Mayfair Australia Corporation, for nominal upfront consideration and a fixed completion payment of $50m, alongside comm...
Dyno Nobel updates market on ongoing on‑market share buy-back
Jun 18, 2026
Dyno Nobel Limited has continued its on-market buy-back program for its ordinary fully paid shares, updating the market as of June 19, 2026. The company reported that a total of 52,454,904 shares had been repurchased prior to the previous day, wit...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.